When you send money to a beneficiary who is not a PaySimati member, we will ask you to confirm...
During the account opening process, we ask you to take a photo of your face (called a “Selfie”), to verify that you are opening the account yourself.
This additional step helps prevent identity fraud and adds an extra layer of verification to ensure, once again, that you are who you claim to be.
When you register for a PaySimati account, we will generate a unique PaySimati ID for you. This ID will appear on all transaction notices and is used to identify your account to beneficiaries and senders of e-payments on our platform.
You can use your PaySimati ID to securely login to the PaySimati app. You can also use your verified phone number or email address as your login, along with a PIN or password, to login to your PaySimati account securely.
To secure your account, we issue a unique six-digit PIN that only you should know. This PIN is sent to you via email when you first register for your PaySimati account..
Additionally, you can use a password instead of a PIN. We will ask you to answer three security questions to which only you know the answers, for use when requesting a change to your PIN/Password. We also require your PIN/password to authorize
We keep you updated on all your transactions through real-time in-app notifications, emails, and SMS messages (for feature phone users).
This ensures that you are always aware of what is happening with your money.
When you send money to a beneficiary who is not a PaySimati member, we will ask you to confirm.
You can use your PaySimati ID to securely login to the PaySimati app. You can also use your verified phone number or email address as your login, along with a PIN or password, to login to your PaySimati account securely.
We use the highest level of encryption to protect your personal information, including your identity and confidential account details.
We do not share your information with unauthorized third parties and would never sell your information.
All cash balances in your PaySimati account are placed in trust accounts held in Malawi banks, established for this purpose.
PaySimati warrants that at all times, the total balance held in its trust accounts is equal to at least 100% of the total outstanding or unclaimed cash balances of all PaySimati members using its e-payment services.